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1x ~ . -WED -N, -
ESTABLISHED 1865.0_ EBRY .C,WDEDY 819.PIE$.0AYA
FIXAN CZS OF THE STATE.
Trasurer Bates lssues His Reporc Show
tag Where the Money Goes-Over
",AM Spent In LItigation.
[Special to News and Courier.]
CoLUmBIA, November 22.-The an
nual report of the State Treasurer was
issued to-day. Two interesting feat
uses of the report are t be expenditure
of $4,955.07 on the Governor's contin
gent fund, and that $5 608 02 was spent
on the Attorney General's litigation
fund.
The following is the generalfinancial
exhibit:
CAB EENDITURES YEAR ENDING
OCTOBER 31, 1894.
Legislative expenses......... 37,4
Public printing........... 31,461 03
Educatlonal, ebaritable,
penal and sanitary insti
tutionasandexpenoes... 259 327
Clemson Agrieultural Col
lege.......................... 64,94108
Interest on pebliedebt and
expenses ...................269,755 56
Brown consols due July,
1898, princIpal redeemed 108,14642
Defiency stock redeemed 63542
Sat dispensary............48,58030
SaWaim So Court,
C0reutj= o"etor8,
fidateem emmuty au
1r. and supervisors,
pobie institutions, etc... 149,31770
vestments for sinking
fhd, for reduction, et.,
of theBrown4 per ceits
under Ant 1892..............
contingent and stationery
and stamps fqnd execu
tive ofters, Supreme
Court and other offlcers. 9.541 18
SPensions............. 52.169 70
itiWeHabsO. ..............5,016,50
-Dfeet taxaina Act1884,
'And dirict tax fund ....... 14,7421
BefuDdtaxesandover pay
ments refunded county
STreasures.................9.30808
Special funds.. 5,676 10
158,153 52
On other accounts......... 25,995 23
$657 48
Cash bakance October 31,$165724
18 ................. 20325824
TbtaL........... $1,888,828 72
CASH REMEPTS FOR YEAR ENDING OC
TomE, 31, 1894.
U' eneral taxes 1892 and 1893
and back taxes......$93,138 20
State dispensary..........463,911 19
Pho te royalty........... 57,827 13
Privilege tax on fertilizers 43,4238
Direct tax interest received
from U.ited Sates....... 17,919 92
Morrill fund received fram,
United Stats............... 20,000 00
Insurance license fees. 10,600 00
Railroad assessments r
railroad cmmissioners ... 7,156 61
Fe tate ipenSary............. 3,91720
Creissioners tinlefund 1,53 8
Treasum iunderAct189 100,04349
Othm soUrces...-t........ 1,919 9
U otal.. tte................ $1,661,100 17
Clab baL. October 31, 1IM 227,728 55
TO a ......icense ..e.... $1,888 S28 2
The Treasurer akes these remarks:
"Ir will be seen that under authority
of the Act of 1893, a further loan of
mom swas effected by his Excellency
teN Governor and myself during the
ras rertedr Ast89 0ve4 bee9
lqodtc,...ut..a..o.t......$5,0600 wit
ITeresurilecmes dhee aemarknx:
"n fulilm et ofe tat condrc athoriy
oftAct of 1893, aurtheroloa ofh
ne Brwns ecenby hissuxelfrle
dtheoenof the mysewf cns the
yehrsjhste royalty Theeoanvd over
dranftb eportd boas yard staveoten
aiqunte buf $a,7 note f wh0,000 wth
i mntst wil4la beedeJnur inveti
Inefuritient asrofr the tActo ade
comisine89hae with the p fte
dermption of that duty. Fonsrs thes
poshafte aoat received from Jan
Unire S, 894 s oenent p(aced9to.the
oaount of the40 direc been interest
soeuritisateired may he quired he
Unied Te Staenmet(] 99.2
on vieown of the enrect tasconet
somte feguslain hmannual reurepor."p
TheiSteae, busnes,hSa]
- rer Bates yesedy gave the fol
lowing to the press, with the gederal
financial statement of the dispensary
busnes,which is appended. It makes
very interesting reading just at this
time, when dispensary figures are "out
of sight:"
- In the statment of debtors and credi
tors, 31st October, 1894, found in the
State Treasurer's annual report, the
dispensary Is credited with $21,169.15.
On the debtors' list the cash on hand
in the Trasry, 31st October, 1894, is
$203 256 24, belonging to fourteen dif
ferent funds, of which $21,169.15 Is
liable to draft on asoount of the dispen
sary, and is precisely the amount to the
credit of same on 31 October, as above.
The dispensary is entitled to this
balance and we show we have the
money to pay it.
Cash in the Treasury Is reported a
debtor, and not the dispensary.
The following statement will speak
for Itself and is submitted in the belief
that the public desire the information
it contains.
W. T. C. BATES, State Treasurer.
The following is the appended state
ment:
DISPENSARY S. C. CASH ACCOUNT.
The State Treasurer credited the dis
- pensary with
RECEIPTS 1892-93.
January, 1893.
Appropriations............$S 50,000 00
Cash paid into State Treas
ury by D. H. Traxler,
Commissioner, August,
September and October,
1893 ...............100,332 1
Total................... $150,33 13
Charged the dispensary
with
EXPENDITURES 1892-9/f.
To payment w arrants
of .-~Taler, Cowmmis
~-~ione-, approved by the
Governor, paid A pril 1, to
October 31, 1893, inclusive $134,493 87
Cash balance Oct :ber 31,
1893....................... 1,838 26
Total ...................150,332 13
Credited tbe dispensary
with
RECEIPTS 1893-94.
November 1. 1893.
By cash balance 1892-93...$ 15,838 26
Cash paid into State Treas
ury by D). H. Trailer,
Com missioner, November
inclusive .....------ -. 463,911 1
Total ............... $479.739 46
Charged the dispensary
with
EXPENDITURES 1893-94.
To payments upon warrants
of D. H. Traxler, Commis
sioner, approved by the
Governor, paid November
1, 1893 to October31, 1894,
inclusive......................... $458,580 30
To cash balance Oct. 31, 1894 21,169 15
Total.............. 2479,749 45
Credit to dispensary with
November 1, 1894.
Cash balance 1893-94, on
hand and included in total
cash balance October 31,
1894, as per State Treas
urer's report................. $ 2d 15
THE METHODIST CONFERENCE.
Twenty New Ministers Admitted-Mr, John
0. WilLson Elected Editor of the
Advocate..
[Special to News and Courier.]
LAURENS, November 23.-The )detb
Ddist Conference room was filled at an
mrly hour to-day when Bishop Keener
proceeded to call the names of preach
rs of the Charleston, Columbia, Ches
er, Florence and Greenville districts,
ind their characters were examined
md passed. The reports from the pas
toral charges in these districts indi
Wted a year of great prosperity in the
ingathering of new members and some
improvements in the matter of church
and parsonage building. The collec-.
Lion for the support of the ministry
and for benevolences were less than in
former years.
Bishop Keener called the class of the
second year before him, composed of
twenty young. men, and addressed
them on the doctrines and polity of
the Church and propounded the dis
ciplinary questions. Having served
two oears on trial, and their examina
tion proving satisfactory, they were
admitted into full connection.
The matter of greatest interest to the
Conference to-day was the eleetion of
the editor of the Southern Christian
Advocate. On the first ballot 211 votes
were cast, of which John 0. Willson
received 97 and J. W. Daniel 87, with
27 scattering. On the second ballot 210
votes were cast. J. 0. Willson received
115 and was declared elected. Mr.
Willson is well known in South Caro
lina and will ably fill the editorial
chair.
. The legal Conference held a short
session, when the Rev. A. J. -Stokes
was elected president in place of Dr.
Samuel Jones, deceased. Moneys ac
cruing from invested funds were dis
tributed to aged preachWe and to
widows and orphans.
The examination of character will be
completed to-morrow, when the reports
of standing committee will be made.
Conference will not adjourn till Mon.
day night.
A MODEL FARMER.
Not a Coat-tall Swinger nor fet^a One
gallus Tillmagiac, but he is Better 7
off than when Cotton Sold for
Fifteen Cents.
[News and Courier.]
ORANGEBVRG, November2 -A non
political farmer, full of bard seuse,
dropped in to-day and remarked in
reply to "dull times:" "I am doingtfirst
rate; don't bother politics; never go to
a speech-gathbering; doing better than
when cotton was 15 cents per pound,
and friends to treat plentiful. I let the
treating part go and treat my family
all the better."
"Well, tell me how you made out
this year?"
"I wanted to close out the last dollar
against my farm, so I worked close,
using only one horse. Had three chil
dren to help, one i2, one 14, one 16,
when they were not at school. I made
320 bushels of corn, 10 bales of cotton,
1,800 pounds forage to sell, 2 200 pounds
for my stock, about 20 bushels peas,
have 32 hogs and pigs fattening, made
150 gallons of syrup, all of my lard and
meat used. Don't care to sell my eggs
and poultry. I feel, sir, as rich as thbe
Governor and as contented as a man
can be. The trouble is, sir, that we do
not raise what we buy. Let us be far
mers and this cry of 'cheap money,'
etc., will all go by as useless."
After meeting this model farmer and,
shaking his broad, honest hand, I said:
"You may see this in The News and
Courier, as it is an example for others."
Thanksgiving Proclamation.
Governor Tillman has issued the fol
lowing Thanksgiving proclamation:
The closing year and the gathered
harvest admonish us of our obligations,
as individuals and as a people, to the
Giver of all good gifts, material or
spiritual. Pestilence has been averted
from our shores, peace and liberty have
been preserved and assured. within our
borders, the good works of education
and religion have been pro-pered and
blessed among us, and happiness and
ope still crown the outgoing and in
coming year.
These blessings call for the continued
recognition of our obligation. and our
gratitude to Almighty God.
Now therefore, I, B. R. Tillian,
Governor of South Carolina, do hereby
appoint and set apart Thursday, the
29th day of November, as a day of
Thanksgiving and Prayer: and I invite
all our people on that d ay to abstain, so
far as possible, from their ordinary la
bors, and to unite in their places of
worship and in their houses in public
and private thanksgiving to God for
the blessings vouchsafed to us as a
people, and in prayer for their con
tinuance.
Given under m.1 hand'and t
Seal of South Carolina, at
Columbia, this ninetee
ember, in ,Lord one
thou ,. ed and ninety
B. R. TILLMIEN Governor.
The Standard Oil Kings to be Arrested.
WAcO, Tex., Nov. 22.-The grand
jury of McLennon County has indicted
John D. Rockefeller, Henry M. Flagler,
WVm. Rockefeller, John D. Archibald,
Benjamin Brewster, Henry H. Rogers,
Wesley H. Telpard, Heniry Clay Pierce,
Arthur M. Finley, C. M. Adams, J. P.
Gruel, E. Wells. tor entering into a
conspiracy with the Central Coal Oil to
control the market.
Governor Hogg will issue a requisi
tion on New York's governor for the
arrest of the parties.
"I escaped being a confirmed dvs
peptic by taking Ayer's Pills in tim~e."
This is the experience of many. Ayer's
Pills, whether as an after-dinner pill
or as a remedy for liver complaint,
indigestion, fiatulency, water brash,
CORNERING COTTON.
Mr. Roddey's Plan for the Producer to Dc
Thin-An Important Meeting-The Plan
to Form a Cotton Syndicate Among
the Producers Fully Dicnased.
[Atlanta Constitution, 22.j
A meeting of the cotton men beld at
the Kim ball bouse yesterday afternoon
recommended Mr. J. T. Roddey's plan
for controlling the price of cotton~ by
the fortuation of a trust.
This action, however, was taken
only as individuals, and was opposed by
some of those preseut. This opposition
was from no absolute hostility to Mr.
Roddey's scheme, but was due to the
fact that the idea was new had that not
been fully investigated.
Following this recommendation there
was appointed a committee of three,
eousisting of John T. Roddey, chair
man; H. S. Lipscomb, of South Caro
lina, and J. E. Nunnally, of Georgia,
to call county and State conventions to
elect delegates, one for each Con
gressional district and one at large, to
an interstate convention.
There were about fifty present at the
meeting, among whom were Commis
sioner of Agriculture of Alabama Hec
tor O Lane, Comifilssioner R. T.
Nesbitt, if Georgia; W. L. Roddey,
Rock Hill, S. C.; J.. S. Blalock,
Laurens, S. C.; J. T. Dundan, New
berry, S. C.; Representative,J. F. Mc
Elmurray, Waynesboro, Ga.; H. 8
Lipscomb, Spartanburg,.S. C.; John
Bostwick, Morgan County, Georgia; J.
L. Moore, Rock Hill, S. C.; W. J.
Moore, Abbeville, S. C; J. R. Black,
Moroe,:Ga.; .N Moore, York Coun
ty South(aro11ba,and Representative
J. P.^Brown, of Pulaski County.
Counmissioner-Lane, of Alabama, was
ziade:chairmarof the meeting and Mr..
J-. Duapan secretary.
Commissioner Lane, on taking the
chair, made an Interesting address,
heartily endorsing a plan that would
control the price of cotton. He thought
that the time for action in the matter
was at hand and believed that con
certed and well organized effort on the
part of the farmers would bring about
the desired results.
Mr. J. T. Roddey, who is a South
Carolinian, doing a cotton brokerage
business in-New York, was called upon
and outlined the details of his plans to
the meeting.
Mr. Roddey is an interesting talker,
and his enthusiasm evidenced a deep
interest in the work he has under
taken.
He prefaced his remarks by showing
the way cotton values are manipulated
by speculators and their system of
robbing the producer of his legitimate
profits.
"It's all a mistake about our produc
tion being the cause of low-priced cot
ton. It- because the crop is mani
pulated by speculators. Now, my idea
Js to make the crop control the price.
This can be done by foriing a gigantic
combination oreotnpan'y with a capital
of $50,0000,000 or $100,000,000. To form
this company I would suggest that the
producers contribute one bale of cotton
out of every five they make. In this
-way. -the -stoek can-be subscribed, and
thei tr wil not be out adollar.
ofepabsu4, butsay thit in
a crop of 8,00,000 for every five bales a
farmer grows be take stock to the
extent of one bale. That would leave
a crop (.f 6,400,000 to be marketed, the
1,600,00 being set aside as capital stock
f(r the company and taken out of the
available supply. Now I verily be
li'.ve that 6,400,000 bales of cotton will
biring in value fully as much as 8,000,.
000-the difference whieb has gone to
speculators and manufacturers will be
set aside for the producer in stock the
first year. In case of a crop failure he
has his stock in the company to fall
back on,, and the company can sell part
or all of their cotton provided the
price is high enough, but in no case
permit the market to be flooded with
cotton.
"To perfect the system of operations
it--would be advisable to have the gmns
in each county listed and the number
of bales ginned reported to the general
office. If possible it would be a good
idea to control the gins. If cotton then
comes in too freely we could notify the
gin ners and have them suspend
operations until the demand increased.
"Many farmers would probably be
willing for the trust to handle more
than one bale out of every five, as you
will .see from a letter, the Hatcher
Manufacturing Com pany. of Columbus,
Ga., offers to subscribe 200 bales at the
start.
"The affairs of the trust would be
kept as secret as possible from the
speculators and through our branch
offices in all the counties of the cotton
belt we would be in absolute possessin
of all racts concerning the state of the
crop at all periods of the year.
"The cotton- contributed by the pro.
ducer, after being delivered to the
offiers of the trust in each county,
would be stored, insured, graded and
weighed and stock to the amount con
tributed- given to the producer.
"My plan would be to have ware
houses at every general receiving point.
These c,ould either be purchased ready
built at a legitimate price or arrange
ments could be made with warehouse
owners to store and insure at a very
low rate. The warehouse receipts could
be made transferable or bill of exchange
could be used.
"Let books of subscription be opened
at every town and city in the south.
In regard to the management of the
company have one general or head
office, say in New York, New Orleans
or Atlanta, with two general directors
from each cotton growing State, with
one director fromr each county in that
State and have subofficers in all the
principal cities and towns in the dif
ferent States to control the local cot
ton, all to be cor2trolled by the general
or head office.
"Let the head o 'nstruiaIwhen to
cranlo> cotton or hcold until
-n pri offered. The farmer,
'ulddot be forced to eel]
bis co- Arrange so that in case a
farmer wishes to sell, say ten or one
undred bales, with so much advanced
oui it, he might sell or transfer his
varehouse receipts to his creditors."
Continuing, Mr. Roddey said:
"Messrs. Latham, Alexander & Co.,
make an estimate of the present acre
age at 20.209,000.
"Neil's estimate of 10,2.50,000 bales
would signify a yield of a little mnore
than half a bale per acre, which is pre.
posterous.
"But an 8,000,000 bale crop at 5 cents
represents a cash value of $200,000,000,
If one fifth of this crop, or one ba!e out
of every five was put into the proposed
trust it is estimated that its withdrawal
would increase values 25 per cent., giv
ing a cash valuation to the remaining~
fourfifths of the crop, of $200,000,00C
and $50,000,000 to the 1,600,000 balei
held by the trust. This shows the
wonderful possibilities in store for the
producer in this scheme."
Mr. Roddey was closely questioned
on all points connected with his plan
swers, showing that be had fully
mastered the subject.
J. o. Waddle president of tbe Geor
gia Agriculture Society and Chairman
Lane thought an endorsement of the
plans at this time would be hasty and
ill advised, but they were overruled by
a nsjority of those present who sus
tained a motion to reconmend the
plan.
The subject will dotlhtless come up
in regular form before the meeting of
the Soutbern Cotton Growers' A ssocia
tion at Jackson, Miss., on January 9th
next.
The meeting passed resolutions giv
ing hearty endorsement to the action
of the Southern Cotton Growers' As
sociation at Montgomery.
STUDENT LABOR PROBLEM.
How It's Being Worked out at Clemson
College--President Craighead has Some
thing Interestiog to Say About it in
his Annual Report to the Gen
eral Assembly.
The following extract from the an
nual report of President Craighead of
Clemson College, bearing on the prob
lem of "Student Labor," which seems
to have been solved at this institution,
will be found of great interest:
"The student labor problem is, I
think, gradually solving itself. The
profeszors in the academic department
have cheerfully consented, whenever
called upon, to superintend squads. As
will be remembered, the management
and direction of student labor was left
largely in the hands of the president.
Subsequent experience will no doubt
modify and perfect our plan, but I am
more firmly convinced, as the way
opens up, that all students should be
required to perform a certain amount of
purely educational labor for which they
should receive no pay whatever. Practi
cal work in the chemical, physical,
botanical, biological and entomological
laboratories is educational labor, re
quired of all students taking these
courses, and should evidently receive
no compensation whatever. In like
manner, students taking cours,s in
agriculture and borticulture should be
required todoacertain amount of work,
such as professors may deem necessary
to a completion of their courses on the
farm and gardens, nature's own labora
tories. So also should tmecbanical stu
dents be required to doa certain amount
of purely educational work iu the
foundry, the wood shops, and the ma
chine shops, for which it would be
folly to expect any remuneration. It is
clear also that ni:tbematical students
should be required todo much practical
work in surveying, leveling and the
like. All work of this kind is nt only
practical, but educational in the high
est sense. To abandon this in our
scheme of studies is to turn out theorists
and day-dreamers, whose heads are
crammed with useless stuff which their
hands can never turn to practical use.
A certain amount then of real practical
work, such as the board and professors
in charge consider necessary, should, I
think, be exacted of all our students,
and for which they should receive no
money. Here compulsory labor should
end.
"In addition to this, there will al
ways be an indefinite amount of really
productive labor, not necessarily edu
cational, which students Who need the
which they 1,bould be paid. In no other
possible way can a liberal and practi
cal education be put witbin the reach
of the masses. I have received during
the year hundreds of letters from pa.
rents writing me thbat but for our labor
feature they would be compelled, be
cause of the pressure in money matters,
to withdraw their soas. It is safe to
say that only by making use of op.
portunities here afforded for rem unera
tive labor have at least one-half of our
students been able to continue at col
lege. To undertake to furnish free to
all young men seeking it such an edu
cation as is afforded here would impov
erish the State and send out a horde of'
young men taught to rely upon the
bounty and generosity of the common
wealthb. Against the insidious approach
of this form of paternalism, which
strikes at the very foundation ofst ronig,
sturdy, manly independence, our col
lega is pledged by the very charter of
its existence, to perpetual warfare. It is
the duty of the State to put the op.
port unities of an ed'ication within the
reaeb of all her children. It is thbe duty
of the individual, in obedience to God
Almighty's first great law, to seize
those opportunities by hard, unremit
ting toil.
"After studying the question in all
its phases, I would recommend to the
board that all agricultural students be
permitted to work forty hours, and on
ly forty hours, per month, at not more
than 8 cents an hour for good, honest
labor.' Exceptions should be made in
cases where the nature of the work,
such as milking, may require some de
viation from this rule, but for all such
additional labor I would recommend
that only 4 cents per hour be paid. A t
the Mississippi College, mechanical
students are not paid at all. Here I
recommend that they be paid according
to the monetary value of their work.
We have paid out for dtudent laboring
the last seven months $7,403 04.
"I have dwelt at length upon the
problem of student labor, for upon its
successful solution depends the weal or
woe of Clemson College. Labor, labor
of thbe bands as well as of the bead, la
bor in the shops as well as in the fields,
is expected and demanded of all who
enter here. The dignity of manual la
bor is the foundation stone upon which
our educational edifice is raised, and
must be maintained or the wholestruc
ture tumbles to the grounid. To put
young men in the way of maintaIning
themselves in honest independence, to
send out real providers, men who earn
he bread they eat and the clothing
werewith they are clothed, this is the
mission of our State college. Ours is
the duty of teaching thbe youth of South
Caroitia the quaint old truth that for
those whbo do not work there are three
other things to do; to beg, to steal, to
starve. Of the youths who leave these
bals let itbe asked in the language of
Ruskin: 'Can they plow? Can they
sow? Can they plant at the right time,
or build with a steady band? Is the
effort of their lives to be cha'te, knight
ly, faithful, holy in thougbt, lovely in
word aud deed?' I trust that in the
coming years we may be able to reply:
'Indeed it is with some, nay,with many,
and the strengthb of South Carolina is
in them.'
"The mess hall, under the manage
ment of Mr. Schilletter, has been a sur
prising succe~s. H e has demonstrated
beyond question that good, wholesome
board, including fuel, lights, water,
etc., can be furnished for less than $7.00
a month."
Baldness is often preceded or accom
panied by grayness of the hair. To
prevent both baldness and grayness,
use Hall's Hair Renewer, an honest
remady.
STATE BOARD OF CANVASSERS.
The Conorreasional Contests all Decided
As a I. salt a Solid Democratic Delega
tion (at Least Nominally) will Present
Itself for Admission to the Next
Congress.
[Special to News and Courier..1
COLUMBIA, November 22.-With
Comptroller Ellerbe and Secretary of
State Tindal still absent the State board
of canvassers this morning took up the
1st Congressional district contest, heard
all that was to be said on both sides -of
the case and in very brief style the case
was disposed of, Murray's contest being
dismissed, and Col. Elliot thereupon
withdrawing his notice of appeal in the
Berkeley matter.
In the case of Evans vs Latimer the
following was adopted:
Resolved, That the appeal in:the case
of Evans vs Latimer be dismissed.
The contestant in this case had sub
mitted no evidence or anything else,
but simply a legal proposition bearing
on the color of tickets, etc.
The following resolution was adopted
with regard to thecountinz of the Fed
eral boxes at Eastover and Gadsden in
this county. These were the precincts
at which the regular managers did not
appear:
Resolved, That in so far as the elec
tion held at Gad8den and Eastover is
concerned, in the case of Johnston vs
Stokes, it is the opinion of the board, so
far as it is now informed, that the elee
tion was irregular and of doubtful vali
dity, but at the request of counsel on
both sides of said ease the b)ard con
sents to the counting of said votes in
said contests and that they shall be
incorporated in the returns.
This completed the work of the board,
so far as the Congressional districts are
concerned. The votes as already given,
therefore, stand. They will de declared
in a day or two.
Tomorrow morning the board meets
at 10 o'clock to take up all State contests.
It will consider nothing wherein an ap
peal does not come up regularly from the
county boards.
It is said that contests on the Consti
tutional Convention vote under the po
sition of the board can only be heard
from the counties of Berkeley, Beaufort
and Darlington. From what I can
gather today all contests as to the vote
for Governor will bave to be considered
by the Legislature. They are going to
allow anyone who wi4hes to do so to ap
pear in the matter of the canvass of
tbe Constitutionql Convention vo'e in
all cases where the appeal comes from
the lower Court.
The Coming Banking Plan.
[The State.1
The Washington correspondent of
the Springfield Republican sends his
paper additional information regarding
the plan of currency reform now being
worked out by Secretary Carlisle for
recommendation to Congress by Presi
dent Cleveland. It is Interesting and
is probably accurate. Says the corres
pondent:
"The new plan will follow that
adopted by the banks at Baltimore in
the essential features of providing for
note issues against the general assets of
the banks, but will differ from it In
provision for redemption and other de
tails."
This basic idea of issuing notes
against bank assets is the only correct
one, and its recoguition marks a great
enlaig,mment of official information in
the teatter of banking principles. It
permits the expansion of tbe currency
according to the demand for money.
At present, national banking is fitted
to thbe procrustean bed of the national
debt, and its issues cannot be increased
without an increase in the country's
indebtedness.
"The plan for the redemption of the
notes proposed at Baltimore is not sat
isfactory to the treasury officials be
cause it contemplates the continuance
of the existing redemption agency at
WVashington without any additional
provisions for prompt redemption. The
aoavocates of a scientific banking cur
rency maintain that redemption Is slow
and inconvenient under this system,
and that it would not give the elasticity
or the nmew currency which should be
one of its most essential advantages
over the existing system. Redemption
in coin on demand at the counters of
the banks is the policy which will be
urged by the advocates of the banking
currency and will probably be adopted
by the treasury officials in their recoin
mnendations to Congress."
This means that notes must flow
back to the banks of issue for redemp
tion, thus securing a degree of the elas
ticity sought by the advocates of a
State bank system. It also means that
to get gold for export the speculators
can be-compelled to present currency
notes to the banks issuing them. They
cannot raid the Federal Treasury as at
present:
"One of the plans suggested to secure
prompt redemptions is the establish
ment of branch redemption agencies,
under the control of either the asso
eiated banks. or the treasury, in the
leading commercial cities of the coun
try. This would enable the banks of
the surrounding country to send their
notes to the agency for prompt redemp
tion and would enable the redemption
agent to transmit the notes issued by
the banks outside his district to the
other central agencies. The theory of
a banking currency, which has been
burne out by experience in many coun
ties, is that a bank will make every
effort to create a vacuum for its own
notes by transmitting those of other
banks received over its counters to the
redemption agency for withdrawal
from circulation. This theory would
not be borne out if the expense and in
convenie:- ce of such transmissions were
too great.
"Redemption would be somewhat
more rapid, probably; than under the
existing system, which offers little mo
tive except for the substitution of clean
notes, butrit is a significant fact that
the redemptions of all classes of paper
money during the last fiscal year under
the existing system were only
about $380,000,000, or less than
one-fourth of the amount of pa
per outstanding. The amount of re
dernptions, when notes are being con
stantly reissued, is absolutely insuffi
cient to keep the volume of notes adjust
ed to the demands of business, and
prompter redemption, with a view to
greater elasticity, will be insisted upon
in any legislation which meets the ap
proval of the President."
There should be many such redemption
agencies, covering all the States and
territories, or none at all. The "lead
ing commiercial cities" mast have no
monopoly of them.
"One of the important objects sought
by Secretary Carlisle is the termination
of the existIng system of barnking by
the government. He desires to see the
pressure for gold for export shifting
from the treasury to the banks, and
prompt redemption of notes in coin at
the counters of the baa he considers
important to accomplish this result."
Amen! The government's banking
Operations at present are helping the
speculators and hurting the people.
The sooner it retires from the business
the better it will be for the country.
"One of the features of his plan will
be the gradual retirement of the forced
legal tender paper issued during the
war and under the Sherman silver act.
beveral plans have been suggested for
securing the retirement of these notes,
but none has yet been decided upon.
The difficult feature of such action is
the necessity of re.ktming the notes by
actual cash raised ty taxation. The only
alternative to redemption out of current
cath in one form or another is the issue
of interest-bearing bonds to raise the
money of redemptien.
"Neither plan is likely to commend
itself at first blush to certain elements
in Congress, but some method of grad
ual retirement by means of the surplus
in the treasury will probably be re
commended. The income tax and the
duty on sugar are expected to supply a
comfortable surplus, if Congress is not
carried away by extravagance by the
middle of next summer, at the begin
ning of a new fiscal year. It is be
lieved that the actual retirement of the
legal tender notes could be safely spread
over a series of years if Congress had
once pledged the credit of the country
to their redemption and had authorized
a banking currency as the means of
supplying money in the future.
"Whatever regulation is recommend
ed for the retirement of the legal ten
ders will probably be accompanied by
the proviso that they shall only be re
tiredaccording to a fixed percentage of
the new bank notes issued. It would
not be material that some of these bank
notes were afterward withdrawn from
circulation, for that would not justify
the reissue of the legal tender notes."
This retirement of treasury notes we
advocated the other day, and we are
glad to see that it is favored by the ad
ministration. The general government
should issee no paper currency, but
confine itself to the coinage of hard
money. Supporters of the "greenback"
policy usually overlook the fact that
treasury notes are not money but pro
mise to pay money, and that every
paper dollar issued represents a dollar
of government debt-as bad as a bond,
save that it draws no interest-and has
to be redeemed at some time. Why not
pay off this debt now existing, and re
tire the $346,000,000 of treasury notes?
While they remain in circelation the
government must keep up its gold re
serve to redeem them on demand and
be at the mercy of the speculators. The
retirement of these notes, the coinage
of the silver bullion and the withdrawal
of silver notes would release the gold
reserve of $100,000,000 and make the
treasury independent of Wall street.
Of course the retirement of these
notes should follow the expansion oJ
bank notes under the proposed system,
thus avoiding a contraction of the cur
rency; and the funds for the purpose
should not be raised by the issue o1
bonds but come out of the treasur3
surplus as it may be created.
"The proposed banking .currenc
would have the advantage, in the opin
ion of its friends, of continuous expan
sion to keep pace with the growth 0
the country and the system would re
quire no amendment for many year
unless defects of detail were disclose
by the operation of the law."
There can be no doubt about that
It would return to the people a righ
taken from them by the government a
a war measure only.
Gen. John*on Hagod has gatheret
fifteeni hundred bushels of corn from 2
acres of hils farm on the Sasluda river I:
Edgefitd County.
Beyond Comparison
Are all the good qualities possesse
by Hood's Sarsaparilla. Above alli
purifies the blood, thus strengthenin
the nerves; it regulates the degeetiv
organs, invigorates the .kidney an
liver,. tanes and builds up the entir
system, cures Scrofula, Dyspepsia'
Catarrh and Rheumatism. Get Hood'
and only Hood's.
HOOD's PILLS cures all liver ills
billiousness, jaundice, indigestion, sic'
headache. 2.5c.
Master's Sales.
STATE OF SOUTH CAROLINA
COUNTY OF NE WBE RRY-ID
COMMON PLEAS.
William F. Suber, Administrator, &c.
Plaintiff,
against
Laura Koon et al., Defendants,
Complaint for Relief.
BY ORDER OF THE COUR'
herein, I will bell at public outcra
before the Court House at New berry
on the First Monday in Decembor, 1894
all that tract of land in the Coun
ty and State aforesaid, containing One
H undred and Forty Acres, more or less
and bounded by lands of Enoch Cro
mier, estate of Jacob Wicker, dec'd.
William F. Suber and others, being the
real estate of which William R. Sube:
died seized.
TERMs: The purchaser will be re
quired to pay one-third of the purchas
money in cash, and to secure th
balance by bond and mortgage of th
premises, payable in one and two years
with interest from the day of sale, pay
able annually. The purchaser to paa
for papers.
SILAS JOHNSTONE, Master.
Master's Office, 6th Nov, ]894.
STATE OF SOUTH CAROLINA
COUNTY OF NEWBERRY-ID
COMMON PLEAS.
Silas Johnstone, Master, Plaintiff,
against
L. P. WV. Riser and other Defendants
In Foreclosure.
BY ORDER OF THE COUR'
hri,Iwill sell at public out
cry before the Court House at Newber
ry, on the First Monday in December
1894, all that lot of land in the Town o
New berry, and in the County and Statt
aforesaid, containing Twenty-two hun
dredths of an Acre, more or less, front
ing thirty-four feet and three-fourth1
on Pratt street, and forty-feet and one
third on Friend street, and bounded oJ
the East by lot of the estate of Henr2
Halfacre, deceased, and on the Wes
by Jas. F. Todd's lot.
TERWs: The purchaser will be re
quired to pay one-half of the bid iF
casb, and to secure the balance, pays
ble mn twelve months, with interes
from the day of sale, by a bond aO
mortgage of the premises; with leave
however, to anticipate payments ii
whole or in part.
The purchaser must insure the prem~
ises and assign the policy to the Mas
ter, and pay for all the papers.
SILAS JOHNSTONE, Master.
Master's Office 6th Nov., 1894.
aster's Sales.
STATE OF SOUTH CAROLINA,
COUNTY OF NEWBERRY.
IN CO1MON PLEAS.
Rosanna Havird, Adm'x, vs. Emma
Havird et al.
ComplaiHt for Relief.
By ORDER OF THE COURT
herein, I will sell at public outcry
before the Court House at Newberry,
on the first Monday in December, 1894,
all that tractof land, being a part of
the real estate of the late John Oliver
Havird, in the County and State afore
said, known as the "Stewart Place," in
five subdivided parcels or tracts as fol
lows:
Tract No. 1-Containing sixty-eight
Acres, more or less, and bounded by
Road to Langsord's Mill, Tracts No.2
and No. 3, and by the Kinard's Ferry
Road.
Tract No. 2-Containing Sixty Acres,
more or less, and bounded by Road to
Langford's Mill, by lands of J.J. Pay
singer and Tracts No. 1 and No.3.
Tract No. 3-Containing Sixty five
Acres, more or less, and bounded by
lands of J. J. Paysinger, Tracts No. 1,
No. 2 and No. 4, and by the Kinard
Ferry Road.
Tract No. 4-Containing Seventy
Acres, more or lees, and bounded by
lands of J. H. Dennis, J. J. Paysinger,
Tracts No. 3 and No.5, and the Kinard
Ferry Road.
Tract No. 5-Containlng Eighty
Acres, more or less, and bounded by
lands of Geo. G. DeWalt, estate of F.
S. Paysinger, dec'd, Bush:River, Kinard
Ferry Road and Tract No. 4.
TEms: The purchaser will be re
quired to pay one-third of the purchase
money in cash, and to secure the bal
ance payable in one and two years,
with interest annually from the day of
sale, by a bond and mortgage of the
premises sold-with leave, however, to
anticipate payments in whole or in part.
Purchaser to pay for papers.
Should the purchaser of any tract fail
to comply with the terms of sale with
in seven days thereafter, the said tract
will be resold on the next convenient
Saleday, at the risk of the bidder.
Plate of the separate tracts will be ex
hibited at the sale. In -the meantime
they may be examined at this office.
SILAS JOHNSTONE,
Master N. C.
Master's Office, 10 Nov., 1894.
STATE OF SOUTH CAROLINA,
COUNTY OF NEWBERRY-IN
COMMON PLEAS.
Newberry Building and Loan Associa
tion, Plaintiff, vs. Willis Spearman,
Defendant.
BlY ORDER OF THE COURT
herein, I will sell at public outcry
before the Court House at Newberry,
on the First Monday in December, 1894
all tMat tract of land lying and being
in Newberry County, and State afore
said, containing One Hundred and
Sixty-Three Acres and Four-Tenths,
more or les, and bounded by lands of
J. M. C. Stewart, Moses Spearman,
and other lands of Willis Spearmian
r et. al.
TERmS: The purchaser will be re
quired to pay one-half of the purchase
I money in cash, and' to secure the hal.
ance by bond and mortgage of the
premises sold, with interest from the
t day of sale-with leave to anticipate
5 payments. Purchaser topy for papers
SILAS JOHNSTONE, Master.
Master's Offie, 10 Nov., 1894.
SST ATE OF SOUTH CA ROLINA
COUNTY OF NE WBERRY-II~
COMMON PLEAS.
David Hipp, Plaintiff,
against
Nant ie 3. Alewine et al., Defendants
Foreclosure.
rY ORDER OF THE COUR1
a.,herein, I will sell at public outera
at Newberry Court House on the firs
Modyin December, 1894, the follow
ia elestate, of which Thomas H
Alewine died seized:
That tract ot land in the said Stab
and County, containing Ninety Acres
more or less, and bounded by lands o
C. H. Suber, Jenkins Smith, Harrie
. Epting and Eliza Brown.
Terrms: The purchaser will bi
permitted to pay the whole bid In cash
. otherwise one-half of the purchs
money will be required in cash, an<
the balance secured by a bond and
mortgage of the premises, payable ii
one year, with interest from day of salE
Purchaser to pay for papers.
SILAS JOHNSTONE, Master.
Master's Offie, 6th Nov., 1894.
STATE OF SOUT H CA ROLINA
COUNTY OF NE WBERRY-Il
COMMON PLE AS.
'Thomas M. Neel et al., Ex'ors, Plair
against
John Hall et al., Defendant.
Forelosre.
BYORDER OF THE COUR
hri,Iwill sell at public aut
tion before the Court House at Neu
r berry, on the first Monday in Decen
ber, 1894, all that tract of land in th
State and County aforesaid, contait
inlg Eighty-Six Acres, more or les, an
bounded by lands of John Byrd. Joh
D. Pitts, Estate of Elijah Tribble an
Estate of Wash Floyd.
TERMS: The purchaser will be pe:
mitted to pay the whole bid in cask
othei wise one-half of the purchas
money will be required in cash, an
the balance secured by a bond an
mortgage of the premises, payable I
one year, with interest from the day <
sale. Purchaser to pay for papers.
SIL A8 JOHNI3TONE, Master.
Master's vfflee, 6th Nov., 1894.
ST ATE OF SOUTH CAROLINA
COUNTY OF NEWBERRY
IN COMMON PLEAS.
Thomas M. Neel et aL, Ex'ors, Plair
.. tiffs,
against
f Preston Dominick et al., DefendantU
. Foreclosure.
-DYORDER OF THE COUJR'
s . herein, I will sell at public oul
- cry in front of the Court House at New
berryon thefirst Monday in Decena
r ber, 1894, the following real estate:
t That tract of land in the said Stat
and County, containing Seventy-on
- Acres, more or less, and bounded b
1 the Belfast Road, lands of Thomas N
- Neel, Mrs. C. D.' Harman, dec'd, Mrn
t M. Ella Dominick, deceased.
i TERMS: The purchaser will be re
,quired to pay one-third in t'ash, and se
i cure the balance by his bend and mori
gage of the premises, payable in on
- and two years, with interest from th
- day of sale, payable annually. The pui
chaser to pay for papers.
SIL AS JOH NSTONE, Master.
Master'saOffica 6 Nov., 1894.
Master's Sales.
STATE OF SOUTH CAROLINA,
COUNTY OF NEWBERRY.
IN COMMON PLEAS.
Rebecca Brown a Administratrix, &c.,
Plainti1f, agamst Joshua D. Daven
port and( others, Defendants.
Foreclosure.
BY ORDER OF THE COURT
herein, I will sell at public out
cry, during the legal hours of sale-on
Monday (salesday),- tbe- 3d day of De
cember, 1894, all that tractor planta
tion of land in the State and county
aforesaid, containing One Hundred and
Thirty (130) Acres, more or less, and
bounded by lands of the estate of F.
Werber, deceased, Rebecca Payi'
and others. This tract will be n
two or more tracts.
Also, all that tract or plantation of
land, in the saie State and County,
containing One Hundred and-Four
(104) Acres, more or less, and bounded
by lands of John R.8'pearman, eates
of Wm. Lane, G. B Reagin and
others.
TEims: One-third of the, purchase
money to ,e paid in cash and the bal
ance in one and two years, with inter
est from day of sale, the credit portfon
to be secured by bond of the purebaser
and a mortgage of the premises. Par
chaser to pay for rs.
SILAS JO .TONE, Master.
Master's Ofie, 10 Nov., 1894.
STATE.-OF--SOUTH CAROINA
NEWBERRY COUN rY-INC)Ob
310N PLEA0.
James J. Lane, EV'or of .Archibald
Sloan, Plaintiff,
against
JonnC. Sloan et al.
B Y ORDER OF THE .QURT
herein I will sell at puWe out
cry before the Court House at X
ry,- on the- lst- M n o ber,
1894, all the of. John P.
Sloan, deceased, in the County and
State aforesaid, in the following Six
parcels, or tracts, to-wit:
Tract No. 1. Containing Forty-two
and 4-5 Acres, bounded by Tract No. 2,
by lands of estate of Archy Sloan,-de
ceased, and lands of J. Leonard Sease.
Tract No.2. Containing Ffty-ieven
Acres and bounded by Traets No.- and
No. 3, by lands of Estate of Arehy
Sloan and lands of J. Leonard Sease.
Tract No. 3. Containing Thirty-five
Acres, and bounded by Tracts No. 2
and No. 4 and No. 6, by lands of~estate
of Archy Sloan and -Mrs. Catharine
Lester.
Tract No.4. Containing twenty-four
and 62-100 Acres, bounded by Trasts
No. 3 and No. 5, landa of Mrs. Catha
riW; Lester and R. T. Caldwell.
Tract No. 5. Containing Twenty-one
.and-a-half acres, bounded by lands of
R. T. Caldwell, Tract No. 4, and by
lands of Summer Rros.
Tract No. 6. Containing Fifty-three
and Three-tenths Acres, and bounded
by Tract No. 3, lands of J. Leonaid
Sease, P. T. Caldwell and Mrs. Oath
arne Lester.
Tam: The purchaser. will be re
quired to pay one-third of the porchase
money In cash, and to -secure thembal
anee by bond and mortgage of the prem
ises sold, payable in one and two years,
with interest on each instalmentfrom
day of sale. Leave, however, will be
given to the purchaser to anticipate
payments in whole or in part. Par
chaser to pay for papers.
SILAS JOHNSTONE.Master.
Master's Office, - Nov., 1894.
ST ATE OF SOUTH CAROLINi
COUNTY OF NEWSERRY.- '
IN COMMON PLEAS.
Henry C. Summer, Plaintiff, against
W. A. Fallaw et. al., Defendants.
Relief.
BYORIDERd oHE COURT
hrn,-Iwill sell before the -
Court Rouse at Newberry, on
the First Monday in BIeember,
1894, at public outcry,. in one .or
more parcels, that lot of land In the
Town of Newberry, County and tate
aforesaid, containing Forty-five Hon
dredths oftan Acre, -more or less, and
bounded by NanceStreet, Friend8Street,
McKibben Street, and by lot of Joseph
Brown, deeased.
Tanus: Tne purchaser will' be-ye
quired to pay one-third of.the parcase
-money In cash .and to secure the bal
ance, payable in one and two years,
I with interest from the day oftale; by a
bond and mortgage or the ~p
sold. The purchaser must .have the
premises Insured for at least twelve
months In the suinof-aone thousand
dollars and assign the pohecy.to the
- Master. Purchaser to pay for pers
- . SILAS JTOHNSTONE, ' '
Master's Office, 10 Nov., 1894.
STATE OF SOUTH CAROLINA, -
COUNTY OF N~EWBERRE
IN COMMON PLEAS.
Newberry Building &dr.Investmnent
Company, Plaintiff, inst John R.
Scurry et. aL., Defen us
BY ORDER OF~~TE COURT
herin,dated 11 July, 1894, I will
~- sell at public outcry, before Ahe Court
- ifouse at Newberry, on the.First Mon
day In December, 1894, all that tract of
e land in Newberry County and State of
- South Carolina, containing Four Hun
d dred and-ten Aeresr~more or less, and
1 bounded on the North by lands of 3.
I W. Simmons, East by lands of A. S.
Parks, South and West by lands of
Geo. 8. Reid and by Saluda River.
', TEEMs: The purchaser will~be re
e quired to pay one4bhird of the purchase
I money in cash, and to secure the bal
ance payable in one and two years,
3with interest on each instalment from I
Sthe day of sale by a bond and a mort
gage of the property sold, wi.h leave,
however, to anticipate payments. The
purchaser to pay for papers.
If the purchaser fails to comply with
- the terms of sale within fifteen days
after sale, the property will be resold
- at the risk of the bidder.
SILAS JOHNSTONE, Master.I
M as' Office, 10 Nov., 1894.
STA TE OF SOUT H CA ROLINA
COUNTY OF NEWBERRY
IN COMMON PLEAS.
The National Bank of Newberry
against Jas. M. Henderson.
-BYORDER OF THE COURT
- herei,I will el at public outcry
before the Court House at Newberry,
e on the Frst Monday in DYecember, 1894,
e all that tract of land lying in the Conn
y ties of Newberry and -Union, contair
.ing Seven Hundred and. Six Acres and
Sa Fourth, more or less, and bounded by
lands of the estate of P. W. Chick, the
estate of R. S. Chick and others.
TE~RS: The purchaser will be re
quired to pay one-third of the purchase
e money in cash, and to secure the bal
e ance by bond and mortgage- of the
-premises, payable in one and twosears,
with interest from the day ofisalIe.
SILAS JOHNSTONE, Master.